The King's School Grantham

Isaac Newton's School

    Year 12 Economics Curriculum

    Key topics to be taught this year: 

    Autumn Term

    Topic

    Further details about the topic

    Skills

    1

    The operation of markets and market failure

     

     

     

    Production, costs and revenue

     

     

     

     

    Price determination in a competitive market

    Economic methodology, the nature and purpose of economic activity, economic resources, scarcity, choice and the allocation of resources and production possibility diagrams

    Production and productivity, specialisation, division of labour and exchange, costs of production, economies and diseconomies of scale, average revenue, total revenue and profit

     

    The determinants of the demand for goods and services, price, income and cross elasticities of demand, the determinants of the supply of goods and services, price elasticity of supply, the determination of equilibrium market prices and the interrelationship between markets

    Knowledge, application, analysis and evaluation

    2

    Competitive and concentrated markets

     

     

    The market mechanism, market failure and government intervention in markets

     

     

     

     

     

    The measurement of macroeconomic performance

    Market structures,  the objectives of firms

    Monopoly and monopoly power, the competitive market process

     

    How markets and prices allocate resources, the meaning of market failure, public goods, private goods and quasi-public goods, positive and negative externalities in consumption and production, market imperfections, merit and demerit goods, an inequitable distribution of income and wealth, Government intervention in markets and Government failure

     

    The objectives of Government economic policy, macroeconomic indicators, use of index numbers

    Knowledge, application, analysis and evaluation

    Spring Term

     

     

     

    1

    How the macroeconomy works

     

     

     

     

     

    Economic performance

    The circular flow of income, aggregate demand (AD) and aggregate supply (AS) analysis, the determinants of aggregate demand, aggregate demand and the level of economic activity, determinants of short-run aggregate supply and determinants of long-run aggregate supply

    Economic growth and the economic cycle, employment and unemployment, inflation and deflation, the balance of payments on current account, possible conflicts between macroeconomic policy objectives

    Knowledge, application, analysis and evaluation

    2

    Macroeconomic policy

    Macroeconomic mock exam

    Monetary policy, fiscal policy and supply-side policies.

    Knowledge, application, analysis and evaluation

    Summer Term

     

     

     

    1

    Start A2: Marginality, behavioural economics and poverty

     

    Knowledge, application, analysis and evaluation

    2

    End of year exam

    Economic growth and development 

     

    Knowledge, application, analysis and evaluation

     

    Autumn Term

    Topic

    Type of Assessment

    CAT 1

    All areas covered in term 1

    Exam paper

    Spring Term

     

     

    CAT 2

    All areas covered in Year 12

    Exam paper

    Summer Term

     

     

    CAT 3

    AS Economics syllabus (paper 1 and paper 2) 

    Mock Exam

    Main Resources: 

    Resource

    Details (names, web address etc.)

    Term (1,2,3,4,5,6 or All)

    Text books

    AQA AS Economics by Powell (ISBN9781471829789)

    All

    Recommended reading

    A quality newspaper

    Economics by Alain Anderton (ISBN 9781405892353)

    All

    Recommended websites

    www.bized.co.uk

    www.tutor2u.net

    www.economicsonline.co.uk

    www.economist.com

    http://www.bbc.co.uk/news/business/

    All

    Equipment

    Pen, pencil, ruler, calculator

    All